Market Research Blog – Page 3275 – New Product Development

Phenolic Boards Market to Boom: US$ 5 Billion by 2032, Driven by Chemical & Material Industries

Demand for phenolic boards is expected to reach US$ 3.5 billion in 2022 and is projected to increase at a CAGR of 3.63% to reach US$ 5.0 billion by 2032. The widespread use of phenolic boards in the chemicals and materials industry is responsible for the market’s expansion.

Phenolic panels/compact phenolic panels (better known as phenolic boards) could be referred to as plates comprising a core made up of resin and thermosetting, high-density cellulose fibers. Different materials of several furnishes are used over the compact core. They are inclusive of wood panels, laminates, and likewise. The exclusive coating does give phenolic panels an exclusive protection against moisture. They are generally used for manufacturing furniture and various other wooden objects to be used in toilets, bathrooms, and changing rooms.

Cabins could be made from phenolic panels for showers, toilets, and likewise. Lockers could be made from phenolic panels for public areas and changing rooms. Counter tops could be made from phenolic boards to serve overmounted basins. Benches in changing rooms could be made from phenolic panel. Screens could be made from phenolic panels for the offices (used as room dividers or for isolating work areas). Façade cladding could be done by making use of phenolic boards.

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Besides, aspects like appropriate reaction to fire could contribute toward higher sales of phenolic boards. Carpinteria Paco (a division of Spigo Group manufacturing, supplying, and installing woodworking and furniture) makes phenolic panel.

Phenolic boards have made a beeline to exterior and interior applications like sports facilities, public buildings, and various other commercial buildings.

The manufacturers are incorporating novel techniques for engineering phenolic resins to meet requirements of end-use industries. They are actually emphasizing on improvement in several performance metrics like resistance against attack of chemicals, dimensional stability, and resistance against collision. With environmentally-friendly materials being asked for, the global phenolic boards market is likely to grow on an innovative note going forward.

Phenolic boards do offer bigger benefits in the form of compact laminate panels. The factors driving their popularity include their properties of being anti-static, anti-impact, anti-bacterial, and being mildew proof. Decorative confetti couldn’t be imagined without compact laminates these days. Phenolic boards are also being preferred in chemical laboratories, physical laboratories, and biochemical laboratories.

At the same time, preference to plywood by certain end-users due to cost-effectiveness could hamper the phenolic boards market going forward.

Future Market Insights has entailed these facts with future perspectives in its latest market study entitled ‘Phenolic Boards Market’ with its team of analysts and consultants going for 360-degree view in its primary, secondary, and tertiary modes of research.

“Growing demand for thermosetting, high-density cellulose fibers in building materials is expected to help the phenolic boards market grow splendidly in the years to come”, says an analyst from Future Market Insights.

Key Takeaways from Phenolic Boards Market

North America holds the largest market share due to extensive research being conducted regarding phenolic boards coupled with growing utilization of additives.
Europe holds the second-largest market share on the similar grounds.
The Asia-Pacific is expected to witness growth at a rapid pace due to increasing applications in the indoor architecture.

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Competitive Boards

Spigo Group has its engineers, architects, distributors, wholesalers, and final consumers to develop products used for construction of phenolic carpentries and doors.
Kingspan Group is known for developing construction solutions with net-zero emissions for achieving sustainable future.
Asahi Kasei Corporation provides daily-use products at reasonable prices.

Top Key Players in the Global Market

Spigo Group
Guangdong Yuhua Building Materials Co., Ltd.
Linyi Jiate Import & Export Co., Ltd.
Phenolam India Pvt. Ltd.
UNILIN, Kingspan Group
SEKISUI CHEMICAL CO., LTD.
Asahi Kasei Corporation
Unitech Enterprise Private Limited
LINYI CONSMOS WOOD INDUSTRY CO., LTD.
Changzhou Zhongtian Fireproof Decorative Sheets Co., Ltd.
Shallin Electronics Co., Ltd.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Induction Hob Market: Promising Progress Expected by 2033, with a CAGR of 9.5%

The induction hob market is forecasted to reach a value of US$ 19.6 million in 2023, up from US$ 18.9 million in 2022. Anticipated to grow at a promising rate from 2023 to 2033, with a CAGR of 9.5%, the market is projected to soar to US$ 48.7 million by the end of the forecast period in 2033.

The increasing prevalence of kitchens is driving the sales of induction hobs. With a growing number of eateries and households, the demand for kitchens is on the rise. Induction hobs are proving to be a dependable choice in both commercial establishments and residential settings. Consequently, the outlook for the progress of these kitchen appliances is expected to be positive throughout the forecast period.

The induction hob business is being pushed by increasing demand for fast and energy-efficient cooking tools around the world. Millennials want to spend less time cooking. This is one of the ways that helps people buy more product. Also, kitchens with parts that can be added or removed are getting more popular in growing places like India. The biggest part of the market is held by families. Accessing things online is helping the induction hob market grow.

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Safety is another factor calling for usage of induction hob. Growing awareness about safe kitchen products is creating a lucrative opportunity for induction hobs. Out of free-standing and built-in induction hobs, built-in induction hob dominates the market. It, in fact, holds more than 60% of the overall revenue. The chefs are increasingly going for promotion of induction hob to consumers.

The key players are into inorganic mode of expansion to broaden the reach of consumers. Along these lines, TTK Group entered into agreement with Satin Creditcare Network Ltd. for providing customers with healthy and economic cooking solutions.

Future Market Insights has walked through these findings with future perspectives in its latest market study entitled ‘Induction Hob Market’. The team of analysts and consultants has worked on micros as well as macros to execute.

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Key Takeaways from Induction Hob Market

Europe holds the largest market share due to growing number of single-person households. The Directorate-General of the European Commission, in May 2020, released data that single-person households rose by 18.7% from 2010 to 2019. Besides, increasing consumption and promotion of the sustainable products have resulted in increase in consumption of induction hob. On these grounds, as per the data published by the International Trade Centre and the European Commission in May 2019, sales of the sustainable products since the last five years in several European countries are – The Netherlands (89%), Italy (84%), France (90%), and Germany (84%).
The Asia-Pacific is expected to grow at the fastest rate in the induction hob market in the forecast period due to rising prices of LPG. As per Economic Times, in June 2020, price of subsidized cooking gas rose by 20% in the year 2019. The key players are also taking efforts to bring out less pricy induction hob. On this count, Bajaj Majesty ICX 3 1400-Watt Induction Cooker is priced at ~US 26.64 in India, which is looked upon as ‘affordable’.
The Americas are going steady with respect to induction hob market. Brazil and the US are leading from the front.

Competitive Landscape

Robert Bosch GmbH, in November 2019, did assert that it had launched Bosch Induction Stove/Cooktops that let the users sync hobs with wall hood for deployment on an automatic basis, that too, when induction is switched on.
Philips Hd4929 Induction Cooktop, in October 2020, was declared as the most cost-effective induction stove tabled by the company since July-August 2020.

Some of the key players in induction hob market include Daikin Industries, Dwyer Instruments, Ingersoll-Rand, Carrier, Airwell Group, LG Electronics, Lennox International, SHARP, Johnson Controls, Siemens AG, Voltas, Samsung Electronics, and Electrolux

“With an upswing in the number of eateries and restaurants all across, the global induction hob market is expected to grow on a remarkable note in the forecast period”, says an analyst from Future Market Insights.

What does the Report induct itself?

The research study is based on type (free standing & portable cooktops, built-in cooktops), by application (commercial induction hobs and household induction hobs), and by distribution channel (direct induction hob sales and indirect induction sales).
With non-residential and residential projects developing at a good rate, the global induction hob market is expected to grow well in the forecast period.

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Key Segments Profiled in the Global Induction Hob Market

Type:

Free Standing & Portable Cooktops
Built-in Cooktops

Application:

Commercial Induction Hobs
Household Induction Hobs

Distribution Channel:

Direct Induction Hob Sales
Indirect Induction Hob Sales

Region:

North America
Latin America
Western Europe
Eastern Europe
APEJ
Japan
Middle East & Africa

Author

Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.

Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Plastic Shrink Wrap Market is Expected to hold a Industry Share of US$ 4.67 Billion by 2033 | FMI

The plastic shrink wrap market is anticipated to expand its roots at an average CAGR of 4.1% between 2023 and 2033. The market is expected to have a market share of US$ 4.67 billion by 2033 while it is likely to be valued at US$ 3.13 billion in 2023

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The rising demand for flexible packaging that covers the maximum area possible is adding value to the market. It is designed to carry a shrink-wrap bag. Furthermore, the usage of it to secure lids and caps is also garnering the attention of manufacturers and packagers.

The high protection and durability, and tamper-proofing capabilities are expected to increase its adoption of plastic shrink wraps. Alongside this, high preservation and convenience is delivered through these packaging styles.
The new opportunities with expanding e-commerce and regular maintenance are likely to garner market growth. They are temperamental with different ranges of temperatures, forming brittleness when too cold.
New high quality with 100% recyclable materials along with durable, versatile, and affordable wraps are anticipated to make the change in the flexible packaging sector. Moreover, the elements like low-density polyethylene, linear low-density polyethylene, and high-density polyethylene are helping different types of applications.

Key Points

The United States market leads the plastic shrink wrap market in terms of market share in North America. The United States region held a market share of13.8% in 2022. The growth in this region is attributed to the high penetration of e-commerce, online shopping, and high number of supermarkets and hypermarkets. North America’s market held a share of 23.6% in 2022.
Germany’s market is another important market in the Europe region. The market held a market share of 5.8% in 2022. The growth is attributed to many businesses advancing their packaging capacity, keeping the bundles and packages clean. Europe’s market held a market share of 20.1% in 2022.
India’s plastic shrink wrap market thrives at a CAGR of 5.4% between 2023 and 2033. The growth is attributed to the expanding warehouses, e-commerce penetrations, and increased per capita income.
China’s market also thrives at a CAGR of 2.9% during the forecast period. The flourishing growth is caused by enhanced manufacturing and packaging lines.
Based on the material type, polyethylene terephthalate glycol (PETG) leads the market as it held a significant share of 66.3%in 2022.
Based on application type, the shrink sleeves segment leads the market as it held a notable market share of 41.1% in 2022.

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Competitive Landscape

The key vendors focus on sustainable material and 100% recyclable products. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Recent Market Developments

Amcor plc has introduced a broad range of shrinkable thermoforming films that come with the adapted barrier and sealing properties for dairy. The product comes with high O2 barrier to enhance the shelf life.
J K Polyfilm has launched the lope shrink film, heat shrink film, shrink wrap film, and VCI film.\
r IKEA

Key Regions Covered:

North America
- The United States
- Canada
Latin America
- Brazil
- Mexico
- Rest of Latin America
Europe
- Germany
- The United Kingdom
- France
- Spain
- Russia
- Rest of Europe
Japan
Asia Pacific Excluding Japan
- China
- India
- Malaysia
- Singapore
- Australia
- Rest of Asia Pacific Excluding Japan (APEJ)
The Middle East and Africa
- GCC Countries
- Israel
- South Africa
- The Middle East and Africa (MEA)

About Future Market Insights Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Nandini Singh Sawlani

Unveiling Opportunities in the Acrylamide Market: Poised to Reach US$ 5.5 Billion by 2033

The global acrylamide market is expected to grow at an average CAGR of 4% during the forecast period of 2022 to 2032. The target market is anticipated to reach a substantial market value by the end of 2032. Factors like increasing demand for enhanced oil recovery (EOR) process will serve as a major growth driver for the acrylamide market due to the fact that polyacrylamide is extensively used in the process.

As a chemical, acrylamide gains expansive usage in the water treatment industry. Owing to the implementation of strict environmental regulations supervising the disposal of sewage water, the market prospects for acrylamide have observed a surge in the last few years. Additionally, the oil and gas industry also generates high demand for the target product because of its oil recovery requirements.

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Other factors like applications in the advancing petroleum and printing sectors will also serve as a prime growth driver of the acrylamide market growth during the assessment period. In the next few years, the food and beverage industry will also contribute to the growth of the global acrylamide market. The swiftly changing lifestyles, and high demand for convenience food items, are aspects that will propel the acrylamide market.

Moreover, an upsurge in consumer awareness regarding proper hygiene is bolstering the demand for personal care products as well as stimulating the medical sector. The medical and personal care sectors are anticipated to have a positive impact on the global acrylamide market owing to its extensive use in the products from these industries. The growth of the adhesives and sealants industry will also drive the growth of the global acrylamide market during the forecast period.

“Extensive use of acrylamide as a superabsorbent in medical and agricultural products will likely boost the global growth of the acrylamide market over the forecast period,” – says an FMI analyst.

Key Takeaways:

Adverse health effects associated with the product may impede the growth of the acrylamide market.
Opportunities in the printing industry may strengthen market prospects for acrylamide.
The swift progress of the oil and gas industry will drive Europe’s acrylamide market toward steady growth.
The Asia Pacific region is expected to emerge as a lucrative market for acrylamide during the forecast period.
China will acquire the largest market share of the Asia Pacific acrylamide market.

Competitive Landscape

BASF SE, INEOS, SNF, Petro China Daqing, Kemira, Nalco, Rudong Nation, and Beijing Hengju among others are some of the major players in the acrylamide market profiled in the full version of the report.

Leading market players are focusing on expanding their production capacities to meet the growing demand. These firms are increasing their investments to expand their facilities as well as their product portfolios. For instance, Kemira invested about US$ 83 Million in June 2021 to increase bio-acrylamide and emulsion polymer production capacity at its Mobile facility.

More Insights into Acrylamide Market

In its latest report, FMI offers an unbiased analysis of the global acrylamide market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of end-use industry (water treatment, oil and gas, paper and pulp, food packaging, cosmetics, others), and region.

According to the latest FMI reports, based on segmentation, the oil and gas and water treatment facilities, as end-use industries, are likely to generate high demand for the product during the forecast period.

Based on region, the acrylamide market in Europe will perform quite well over the next few years. The target market in this region will present substantial growth due to the elevated demand from the advancing oil and gas industry as well as the water treatment sectors. Many governments across Europe are increasing their investment in water treatment projects which is expected to stimulate the market during 2022-2032. Additionally, Asia Pacific is anticipated to emerge as an opportunistic market for acrylamide during this period owing to rising demand for convenience products. Overall, expansive usage of acrylamide in oil and gas, personal care, water treatment, and other end-use industries will fuel the growth of the acrylamide market during the forecast period

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Key Companies Profiled

Firestone
Complete Auto Care
Meineke
Jiffy Lube
Midas
Safelite Group
Monro Muffler Brake
Mitsui Chemicals, In
Zhejiang Xinyong Biochemical Co., Ltd
SNF Group

Key Segments Profiled in the Acrylamide Market Industry Survey

By End Use Industry:

Water Treatment
Oil and Gas Industry
Paper and Pulp Industry
Food Packaging Industry
Cosmetics Industry
Other End-Use Industries

By Region:

North America
Latin America
Western Europe
Eastern Europe
South Asia and Pacific
East Asia
The Middle East and Africa

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani

Unlocking Lucrative Opportunities: The Rising Demand for Calcium Bromide Across Industries

The global calcium bromide market is poised for significant growth, with anticipated demand reaching US$ 5.3 Billion in 2022 and projected to expand at a robust CAGR of 5.2% over the forecast period from 2022 to 2032, ultimately reaching a valuation of US$ 8.8 Billion. This surge in demand can be attributed to various industries leveraging calcium bromide for diverse applications, indicating a promising trajectory for the market in the coming decade. Factors such as increased industrial activities and expanding applications across different sectors are expected to fuel the market’s steady ascent, presenting lucrative opportunities for stakeholders in the calcium bromide industry.

In the power sector, calcium bromide is also used as an oxidant to reduce mercury emissions. Additionally, calcium bromide is used in the treatment of neuroses, hydraulic fluids for automotive suspension, brominated flame retardants, dry plates and light-sensitive sheets for photography, as well as mercury emission controls.

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Calcium bromide (molecular formula: CaBr2), having a density of 14.2 lbs/gal, is regarded as clear brine fluid. Calcium Bromide is utilized with calcium chloride in oil & gas completion & drilling operations to make the drill cuttings brine free. Calcium bromide is a white powder, odourless in nature, and is formed from calcium salt of hydrobromic acid, which a volatile acid used to formulate other industrial compounds.

Calcium Bromide: Market Dynamics

Calcium bromide market demand is heavily influenced by its application in the oil & gas industry. Stabilizing crude oil prices have resulted in an influx of investments in the oil & gas industry, driving drilling and production activities along with work-over operations. Clear brine fluids such as calcium bromide are used to minimize the damage to oil & gas reservoirs and to control formation pressure.

This has been creating noteworthy demand for calcium bromide market. Moreover, calcium bromide also find usage for restraining mercury emission at coal fired power plants. Elemental mercury which is released when the coal is burnt is difficult to capture at combustion temperatures. Hence, bromine based compounds such as calcium bromide are used to oxidize the elemental mercury into flue gas, which can be captured by current abetment equipment.

Formulation of strict government regulations encouraging the usage of halogenated flame retardants in EU countries, the U.S. and Canada, is expected to decrease the consumption of calcium bromide in flame retardants in these regions. However, Asian markets such as India and China, still witness high usage of brominated flame retardants owing to lenient regulations, which is anticipated to drive the demand of calcium bromide in these countries.

Calcium bromide is gaining significance in the oil & gas drilling industry as a better alternative to conventional drilling fluids. Increasing exploration & production ofdeep sea reserves, growing instances of horizontal drilling due to complexities in reservoirs, constant efforts from various developing nations to obtain energy security, are some of the factors contributing towards the growth of oil & gas industry, which in turn is driving the demand of calcium bromide. Booming shale gas production in the U.S. and coal bed methane gas production in China, India and Australia are anticipated to significantly ramp up oil & gas drilling activities in the coming years. Hence, the market vendors in the calcium bromide market are expected to achieve significant revenue base by targeting oil & gas producers involved in the development of these unconventional reservoirs.

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Calcium Bromide: Market Key Players

Some of the major participants operating in the global calcium bromide market include the following players:

Tetra Technologies Inc
Albemarle Corporation
Lanxess AG
ICL- Industrial
Jordan Bromine Company
IRO GROUP INC.
Weifang Taihexing Chemical Industry
Neogen Chemicals Limited
Shouguang HongHai Chemical Co. Ltd.
Weifang Rixing Chemical Co., Ltd.
Shandong Dongxin New Materials Technology Co., Ltd.

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Ortho-Xylene Market Forecast: Projected 4.2% CAGR Growth from 2022 to 2032

Ortho-xylene is a chemical compound belonging to the family of aromatic hydrocarbons. It is one of the three isomers of xylene, the other two being meta-xylene and para-xylene. Ortho-xylene is a colorless, flammable liquid with a distinct aromatic odor. It is primarily used as a raw material in the production of various chemicals and plastics, making it a crucial component of the chemical industry.

The ortho-xylene market is influenced by a combination of factors, including the growth of end-use industries, technological advancements, environmental regulations, and global economic conditions.

The report conducts an in-depth analysis of factors affecting the change in consumer behavior and purchasing patterns. It highlights the key growth prospects for demand and sales across seven major regions.

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Market Dynamics:

Growing Demand for Chemicals and Plastics: Ortho-xylene serves as a key building block in the production of various chemicals and plastics. It is a vital precursor in the manufacturing of phthalic anhydride, which finds applications in the production of plasticizers, paints, and coatings. The increasing demand for plastics and chemical products across industries such as automotive, construction, and packaging is driving the demand for ortho-xylene.
Advancements in Production Technologies: Advancements in production technologies, including more efficient catalysts and process optimization, have led to improved ortho-xylene production yields and reduced energy consumption. These advancements are positively impacting the market by enhancing the overall cost-effectiveness of ortho-xylene production.
Environmental Regulations and Sustainability: As the world shifts towards more sustainable practices, environmental regulations have become stringent. Manufacturers are under pressure to adopt eco-friendly production methods and reduce emissions. This trend is encouraging the development of greener processes for ortho-xylene production, which, in turn, is likely to influence market growth.

Regional Outlook:

The ortho-xylene market’s growth varies across regions. Developing economies with rapidly expanding chemical, plastics, and construction industries are witnessing significant demand for ortho-xylene. Additionally, regions that are investing in sustainable practices and green technologies are likely to influence the market’s direction.

Competitive Landscape Analysis

The survey offers insights into critical trends and opportunities across the technology industry and studies their impact on demand-supply forces in the Ortho-Xylene market. It also profiles a list of prominent companies including

Creasyn Finechem (Tianjin) Co., Ltd.
Doe & Ingalls of North Carolina Inc.
Dyna Chem Inc.
Minda Petrochemicals Ltd.
Shell Chemicals
Sonoco Chemicals
USA Petrochemical Industries Ltd.

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Ortho-Xylene Demand Analysis by Category

By Type

Ortho-xylene
Meta xylene
Para xylene

By Application

Phthalic Anhydride
Bactericides
Herbicides
Lube Oil Additives

By End Use

Automotive
Building & Construction
Paints & Coatings
Aerospace & Defence
Electrical & Electronics
Agrochemical
Oil & Gas
Chemical

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Wood Coatings Market Booming: 5.9% CAGR Fueled by Housing Growth and Furniture Demand

The global wood coatings market is expected to augment at a healthy CAGR of 5.9% throughout the forecast period from 2022 to 2032. The expansion of the wood coatings market is attributed to the growth of the housing market as spending on maintenance of decks, fences, flooring, and siding is rising. Furthermore, stringent regulations, increased competition, a rise in unique formulations, and new product advancements are some of the reasons driving the growth of the wood coatings industry.

Rapid urbanization in response to increasing development and population growth is predicted to increase housing demand on a huge scale. As a result, the demand for furniture such as chairs, tables, mattresses, sofas, shelves, and cupboards has risen exponentially, thereby surging the demand for wood coatings. Although, the availability of less expensive and higher-quality replacements, such as wood composites and plastic wood, may limit the wood coatings market’s growth. Furthermore, stringent regulations, rising competition, growth in unique formulations, and new product developments are some of the factors stimulating the growth of the wood coatings market.

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In addition, the availability of cheaper and quality substitutes such as wood composites and plastic wood is likely to hamper the growth of the wood coatings market. Such alternatives are often more durable and require less maintenance in comparison to other wood products. Although several substitutes are available, wood is a primary choice for commercial and residential purposes for clear wood finish due to its wide availability in the market. Clear coat for wood accounts for most of the wood protection demand comprising paints and stains accounting for the largest shares. In contrast, preservatives, which are applied to lumber by wood treatment companies, account for a smaller portion of wood protection demand.

Key Takeaways

Wood coating applications comprise interior wood, small furniture, panels, tables, cupboards, chairs, office furniture, kitchen furniture, doors, and staircases among others. Generally, there are three major types of wood coatings such as evaporative, reactive, and coalescing.
It has been often observed that the wood’s color changes by staining, bleaching, or any other techniques. Once the wood surface is prepared and stained, the coating is applied. It usually consists of several coats of shellac, drying oil, paint, wax, or lacquer.
In the final stages, the surface may be polished with the help of wool, steel, rotten stone, or other materials. It is also dependent on the shine desired by the customer. In addition to that, a final coat of wax is applied over the finish to add a degree of protection. Polyurethane finish is also associated with wood coatings.
Furniture, decking, and siding are the three largest applications of wood coatings in value terms. However, smaller doors, windows, and cabinet applications are expected to achieve faster growth in the near future.
Paint is considered a dominant wood coatings product utilized on siding, windows, and doors, but as compared to other products, stains and sealers are more widely utilized on cabinets, decks, furniture, and flooring. Polyurethane wood finish is predominately used in primers and sealers.
Residential end-user is known as the largest market for wood protection products, driven by maintenance demand for various items such as fences, siding, and decks. Non-residential and non-building uses account for a much smaller market for wood protection products.

Competitive Landscape

Key players in the global wood coatings market are focusing on launching new and innovative types of wood coatings in order to get an edge over the global landscape. The prominent market players are concentrating on mergers and acquisitions to cater to the diverse customer base. Furthermore, technological advancements are making it possible to innovate new wood coatings products for better results in the future.

Top Key Players

Akzo Nobel Coatings nv (Netherlands)
PPG Industries Inc. (USA)
Sherwin-Williams Co. (USA)
DuPont Coatings and Colour
Technologies Group (USA)
ICI Paints (United Kingdom)
BASF Coatings AG (Germany)
Valspar Corp. (USA)

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More Insights into the Wood Coatings Market

North American region is anticipated to dominate the global wood coatings market. The growth of the region is attributed to the increased demand for personalized home design products, as well as rising customer spending, which will act as a major driver for a thick clear coat of wood in North America.

Asia Pacific region is currently known as the largest market for wood coatings, followed by Europe. The expansion of the market is responsible due to rising sustained demand from the developed markets and burgeoning demand from emerging economies will continue to drive the wood coatings market. The wood coatings market is witnessing a major shift of key market players from Europe and the U.S. to the emerging economies of Asia Pacific, comprising China and India.

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Algae-Based Supplement Market Poised to Reach US$ 4,804.5 Million by 2034, Fueled by Rising Health Awareness and Adoption of Plant-Based Diets

The market size for algae-based supplements is estimated to be around US$ 2,365.3 million in 2024. It is projected to exhibit a CAGR of 7.3% over the forecast period and reach a market valuation of US$ 4,804.5 million by 2034.

Algae-based supplements have gained popularity among health-conscious individuals due to their potential health benefits. This growth has been further fueled by the growing trend of vegan and plant-based diets, which has resulted in increased demand for natural and nutrient-dense products. Manufacturers have also made significant advancements in processing techniques, making algae supplements more accessible and palatable to consumers.

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Diversified product offerings have also catered to consumer preferences, further driving the adoption of algae-based supplements. Ongoing studies have supported the potential health benefits of algae-based supplements, which have increased consumer confidence and the adoption of these products. The demand for sustainable and eco-friendly choices is also driving the adoption of algae-based supplements among environmentally conscious consumers.

The popularity of macro and micro-algal foods has also increased due to their nutritional value and other non-traditional health advantages. Educational campaigns by government and private entities have highlighted the nutritional value of algae, contributing to the increasing adoption of algae-based supplements. Algae-based supplements are also sought after for their skin-enhancing properties, which has led to increased demand among consumers interested in beauty and skincare.

“There is still little to no information regarding the benefits of algae-based supplements in the underdeveloped parts of the world. Besides this, there are also some concerns regarding the effectiveness of these supplements in the minds of the general population. Key companies in the market must educate people to expand their consumer base and alleviate concerns,” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from the Market Study

The microalgae segment dominates the algae-based supplement market, progressing at a CAGR of 4.80% through 2034.
On the basis of the product type, the soft gels segment leads the algae-based supplement market, expanding at a CAGR of 3.90% over the forecast period.
The algae-based supplement market in the United States is anticipated to grow at a CAGR of 8.20% through 2034.
The algae-based supplement market in the United Kingdom is estimated to rise at a whopping 7.10% CAGR through 2034.
The algae-based supplement market in Japan has the potential to increase at a 5.20% CAGR through 2034.
The Canadian algae-based supplement market is predicted to rise at a 5.90% CAGR through 2034.
The algae-based supplement market in Germany is very likely to grow at a CAGR of 4.30% through 2034.

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Competitive Landscape

The competitive landscape in the algae-based supplement market is diverse, featuring both international and domestic companies. Key players, including Fuqing King Dnarmsa Spirulina Co. Ltd., Allmicroalgae, DIC Corporation, Algatech, Cyanotech Corporation, and Terravia (now owned by Corbion), etc., are dominating the global market.

Companies are responding to the demands of eco-conscious consumers and businesses by adopting environmentally friendly cultivation and extraction methods. These players are also investing millions of dollars in formulating new products to widen their portfolios and attract young consumers to the market.

Recent Developments

In June 2023, Iwi Life introduced Omega-3 Minis, addressing nutritional gaps with high-quality sources of Omega-3 fatty acids. These supplements aim to support joint flexibility, cognitive focus, and a balanced inflammatory response, providing a convenient solution for individuals seeking optimal nutrition.
In September 2023, algae processor Vinpai and organic ingredient distributor Adetis forged a partnership, expanding the market for algae-based solutions in France. Vinpai gained access to Adetis’ extensive distribution network, fostering growth in sustainable food and supplement sectors, supported by Vinpai’s recent FSCC 22000 and ISO 9001 certifications.
Top of Form
In 2024, Corbion Introduced Algal Omega-3 and Omega-9 products for dietary supplements. The company announced the launch of its AlgaVia product line, marking the company’s first foray into the human nutrition market.
In December 2023, GC Rieber VivoMega, a Norwegian fish oil manufacturer, expanded into the algae oil market, introducing a line of vegan DHA Omega-3 concentrates from marine microalgae. The company proudly announced its attainment of the International V-Label certification, validating its commitment to quality and origin transparency.

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Key Market Segmentation

By Product Type:

Tablets
Capsules
Soft Gel
Powder & Granules
Liquid

By Algae Type:

Microalgae
- Chlorella
- Dunaliella Salina
- Spirulina
- Aphanizomenon Flos-Aquae
- Haematococcus Pluvialis
- Other Types
Macroalgae
- Nori
- Kelp
- Bladderwrack
- Wakame
- Dulse
- Others

By Consumer Orientation:

Men
Women
Unisex
Kids

By Sales Channel:

Store-Based Retailing
- Hypermarkets/Supermarkets
- Convenience Stores
- Drug Stores and Pharmacies
- Health and Wellness Stores
- Other Retailers
Online Retailing

By Region:

North America
Latin America
Asia Pacific
Middle East and Africa (MEA)
Europe

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:

Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
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Yeast Beta Glucan Market Forecasted to Reach US$ 991.5 Million by 2034, Driven by Growing Demand for Healthy Alternatives Across Food, Pharmaceuticals and Cosmetics

The yeast beta glucan market is expected to surge at 5.1% CAGR, reaching US$ 991.5 million by 2034. This growth is propelled by a heightened awareness of overall well-being, underscored by the harmonious integration of natural ingredients and sustainable practices.

The yeast beta glucan market is witnessing dynamic growth fueled by the escalating demand for natural, functional, and sustainable ingredients across diverse industries. Rising product demand in applications such as animal feed and functional food is anticipated to be a key market driver over the projected period.

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The need for functional foods is growing worldwide due to several variables, including the surging elderly population and increasing prevalence of chronic diseases. Women and children are most likely to have low immunity, particularly in developing nations. The market for products that help increase immunity is predicted to rise due to growing consumer knowledge of health issues.

Preventive regimens are becoming increasingly popular among consumers, as opposed to post-treatment drugs. By 2034, product innovations, especially in the nutrition sector, are expected to fuel demand for medications and nutraceuticals containing yeast beta glucan.

Robust research & development activities and collaborations among key players underscore a commitment to unlocking new applications and formulations. With a focus on sustainability and clean-label preferences, yeast beta glucan is poised to play a pivotal role in shaping the future of health-centric and eco-conscious industries.

“Despite the product’s excellent nutritional value, its compatibility with other culinary ingredients is difficult for manufacturers. Furthermore, it is challenging for manufacturers to reduce the chance of deterioration and maintain the nutritious composition during processing.” – Nandini Roy Choudhury, Client Partner at Future Market Insights

Key Takeaways from the Yeast Beta Glucan Market Report:

The yeast beta glucan market is projected to grow at a CAGR of 5.1% during the forecast period.
The United States yeast beta glucan market is expected to reach US$ 166.1 million by 2034.
Based on type, the 1,3-glucan segment is expected to hold a market share of 51.2% in 2024.
China is expected to surge at a CAGR of 8.1% from 2024 to 2034.
The United Kingdom is projected to rise at 5.1% CAGR through the forecast period.

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Competitive Landscape

Key Companies Profiled

Cargill, Incorporated
EMD Millipore
Lallemand, Inc.
Van Wankum Ingredients
Biorigin
Angel Yeast Co., Ltd.
Kerry Group plc
Leiber
Lesaffre Human Care
Specialty Biotech Co., Ltd.

Key companies are expanding their product portfolios and employing advertising, partnerships, acquisitions, agreements, and mergers to maintain market relevance and drive growth in the yeast beta glucan market.

For instance,

In 2020, Angel Yeast expanded its yeast beta glucan production capacity, responding to escalating product demand.
In December 2020, Lallemand Bio-Ingredients expanded its beta glucans portfolio by acquiring Biotec BetaGlucans (BBG), a subsidiary of ArticZymes Technologies.

Yeast Beta Glucan Market Segmentation by Category

By Type:

1,3-glucan
1,6-glucan

By Form:

Soluble
Insoluble

By End-use Application:

Food and Beverage Industry
Cosmetics and Skincare Industry
Animal Feed Industry
Agriculture Industry
Pharmaceutical

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Growing Bio-active Peptide Market Expected to Reach US$ 4,191.8 Million by 2033 with 5.3% CAGR | FMI

Thе global bio-activе pеptidе Markеt is еxpеctеd to rеach a markеt valuation of US$ 2,508.3 million by thе yеar 2023, accеlеrating with a CAGR of 5.3% from 2023 to 2033. Bio-activе pеptidе salеs arе likely to account for a part of thе dеmand in thе global diеtary supplеmеnts markеt, valuеd at US$ 4,191.8 million in 2033.

Thе incrеasing еxpansion of diеt-basеd mеdical trеatmеnts is projеctеd to havе an impact on thе growth of thе bioactivе pеptidеs markеt.

Accordingly, thе high growth of chronic illnеssеs such as cancеrs, and incrеasing dеmand for protеin-basеd diеts arе also major dеtеrminants that arе еxpеctеd to favor thе growth of thе bioactivе pеptidеs markеt from 2023 to 2033.

Furthеrmorе, thе high risе in commеrcial applications duе to thе bеnеfits of thеsе pеptidеs, as wеll as ongoing rеsеarch and advancеs, arе likеly to positivеly impact thе growth of thе bioactivе pеptidеs markеt.

Furthеrmorе, accеlеrating tеchnological innovations and dеvеlopmеnts in bioactivе pеptidе еxtraction tеchniquеs from natural sourcеs, as wеll as an incrеasе in thе usе of thеsе products in pharmacеuticals, supplеmеnts, and food products, arе еxpеctеd to providе a numbеr of growth opportunitiеs for thе bioactivе pеptidеs markеt during thе forеcast pеriod.

For instance, based on a rеcеnt study by thе Frеnch National Institutе for Agronomic Rеsеarch, Pеptidе supplеmеntation has a twofold еffеct on bonе growth. This is rеlеvant as pеptidеs arе frеquеntly promotеd as aiding in bonе growth.

According to this study, peptides concentrate on bone-targeting cells and are an effective nutritional intervention to improve bone health.

The growing older population worldwide, as well as increased concerns about bone health due to a variety of bone health disorders, are projected to drive the growth of the global bioactive peptide market.

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Key Takeaways from the Bio-active Peptide Report:

The market is estimated to reach a valuation of US$ 2,508.3 million in 2023.
Global demand registered a CAGR of 5.0% historically, from 2018 to 2022.
Global demand for bio-active peptides is expected to increase at a CAGR of around 5.3% through 2033.
Based on the source, demand for plant-based bioactive peptides is expected to continue as it is holding a market share of 34.0% to reach a market valuation of US$ 1,425.0 million by the end of 2033.
According to FMI analysis, the liquid segment is predicted to attain a market share of 78.0% during the assessment period, resulting in a market size of US$ 1,610.7 million by 2033.
According to FMI, the United States is expected to reach a valuation of US$ 1,509.0 million by 2033.

“Rising interest in bioactive peptides indicates a promising market potential, as these compounds demonstrate diverse health benefits and align with the growing demand for natural and personalized solutions in the health and wellness sector.” – says a lead analyst at Future Market Insights (FMI)

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Who is Winning?

Angel Yeast Co., Ltd., BASF SE, Seagarden AS, Archer Daniels Midland Company, Ingredia SA, Rousselot S.A.S., FrieslandCampina Ingredients, Peptan, Kerry Group plc, CP Kelco U.S., Inc. and others (on additional request) are key Bio-active Peptide manufacturers listed in the report.

These companies are expanding product portfolios, employing strategies like advertising, partnerships, acquisitions, agreements, and mergers to maintain market relevance and drive growth in the Bio-active Peptide market.

For instance,

In November 2021, the Caribbean Agricultural Research and Development Institute (CARDI) and The United Nations Food and Agriculture Organisation (FAO) recently collaborated to offer a virtual Bio-active Peptide for Animal Feed Seminar for stakeholders and 25 participants.
In 2021, Nuritas, based in Ireland, announced a multi-year collaboration agreement with Japan’s Sumitomo Chemical Co Ltd to develop bioactive peptides.
In February 2023, the study, published in the Journal of Nutrition, indicated that the bioactive peptides outperform typical animal proteins, notably milk protein, in muscle training.
In 2018, Nuritas and Nestlé announced a partnership to find food-derived ‘bioactive peptide’ networks.

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Bio-active Peptide Market by Category

By Type:

Milk Peptides
Egg Peptides
Soy Peptides
Marine Peptides
Meat Peptides
Others

By Source:

Plant
Animal
Marine

By Application:

Functional Food
Dietary Supplements
Pharmaceuticals
Animal Feed
Others

By Form:

Liquid
Powder
Capsule

By Region:

North America
Europe
Latin America
East Asia
Oceania
South Asia
Middle East & AfricaAbout Future Market Insights (FMI)Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries. Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube